Salary sacrifice boosts EV take-up
Some 40% of employees have said their next vehicle will be electric, according to a new survey by salary sacrifice car provider Tusker.
The firm’s annual driver survey of 5,942 employees has also also revealed that 62% who plan to get an electric vehicle (EV) as their next car said a key incentive is the significant benefits available through a salary sacrifice scheme.
It also discovered that just 10% intending to drive a petrol car as their next vehicle.
When it comes to customer views on their EV’s, 93% of Tusker drivers said they are either satisfied or very satisfied with their car, while 96% said their cars are reliable or very reliable.
The survey also found that alongside tax savings benefits, employees said that cheaper running costs are a key consideration in choosing an EV, with 60% saying this.
52% also said that environmental benefits are a key reason to switch from a petrol or diesel car.
Of the drivers who don’t have a car on the Tusker scheme, and don’t currently own an EV, 69% said they plan to switch in the next four years.
Non-EV drivers still have concerns including range anxiety. But 86% of EV drivers said their cars range is sufficient for everyday use, and 78% only need to use the public charging network once a month or less.
The respondents were made up of 4,331 employed driving licence holders, 1,316 electric vehicle drivers with a Tusker scheme and 295 petrol vehicle drivers with a Tusker scheme.
Kit Wisdom, Managing Director, Tusker, said:
“It’s undeniable that company car and salary sacrifice schemes are playing a major part in supporting EV take up. Industry data shows that recent growth in EV market share could not have been achieved without the significant benefits linked to salary sacrifice.
“These results underline that incentives have played a critical role in supporting the uptake of EVs to date – and it’s vital that the Government ensures that the incentives remain stable and strong enough to encourage more consumers and businesses to switch.
“The research in our report bears this out – drivers say the schemes’ tax advantages are one of the main reasons they plan to go electric or have already done so. We’ve also found that one of the biggest barriers to adoption of EVs is the perceived high purchase cost. This does not concern employees who choose an EV through a workplace salary sacrifice scheme as they aren’t required to pay for their car upfront.”
“Beyond this, however, EV drivers are incredibly happy with their vehicle choices. This year’s survey showed the high – and rising higher – levels of satisfaction EV drivers have about their cars – just 3.5% of EV driver respondents said they’d go back to a petrol or diesel car.”
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